Date:30/12/2005 URL: http://www.thehindubusinessline.com/2005/12/30/stories/2005123000061200.htm

Back Rubber gains on global trend

Our Correspondent

Kottayam , Dec. 29

INSPIRED by extremely bullish international markets, domestic spot rubber explored further highs on Thursday.

Covering groups and purchase agents turned aggressive as major manufacturers were reported to be buying sheet rubber up to Rs 71.50 per kg.

There were no quantity sellers on sheet rubber. The grade firmed up to Rs 72 and Rs 71.75 a kg at Kottayam and Kochi respectively from Rs 71.50 a kg on Wednesday.

The rubber futures opened higher, but profit-booking kept the market almost steady on NMCE.

The January contract was traded at Rs 72.51 (Rs 72.61), February at Rs 74 (Rs 74.05), March at Rs 75 (Rs 75.06) and April at Rs 76.44 (Rs 76.44) per kg for RSS 4.

The grade was traded at Rs 72.25 against Rs 72.19 a kg on MCX

RSS 3 improved to Rs 77.44 from Rs 76.95 a kg at Bangkok. The January futures for the grade closed at 206.9 yen against 202.2 yen a kg at TOCOM.

Spot market prices (a kg) were: RSS-4: Rs 72 (Rs 71.50); RSS-5: Rs 69.50 (Rs 69); ungraded: Rs 67.50 (Rs 67.50); ISNR 20: Rs 69 (Rs 68.50); and latex 60 per cent: Rs 50 (Rs 50).